Home > Statistics > Building cost index > 2008 > November > Growth rate of building costs slowed down to 2.5 per cent in November

Published: 12 December 2008

Growth rate of building costs slowed down to 2.5 per cent in November

Building costs rose by 2.5 per cent from November 2007 to November 2008. Labour costs in construction went up by 3.3 per cent, prices of materials by 1.7 per cent and those of other inputs by 3.6 per cent year-on-year. This is indicated by the building cost index of Statistics Finland.

From October to November 2008, the total index of building costs went down by 0.8 per cent. The prices for labour went down by 1.0 procent, the prices of materials by 0.6 procent and the prices of those for other inputs by 1.0 per cent.

Building Cost Index (2005 = 100) and its year-on-year and month-on-month changes

Index	November 2008	Change % 11/2007 - 11/2008	Change % 10/2008 - 11/2008
Building trade newbuilding
Total index	114.6	2.5	-0.8
Labour	111.4	3.3	-1.0
Materials	116.1	1.7	-0.6
Other inputs	116.2	3.6	-1.0
By type of building
Newbuilding
Blocks of flats	114.6	1.7	-0.6
Detached residential houses	114.2	1.6	-0.8
Office and commercial buildings	114.2	2.7	-0.9
Industrial and warehouse buildings	115.2	3.5	-0.7
Agricultural production buildings	118.2	-0.8	-1.0

Source: Building cost index 2008, November. Statistics Finland

Inquiries: Ms Sinikka Kanerva +358 9 1734 2231, rakennus.suhdanne@stat.fi

Director in charge: Ms Hannele Orjala

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Last updated 12.12.2008